Due to the continuous increase in the prices of petrol and diesel, the government is under great pressure to cut their prices. To get relief from their increased prices, there is a demand to bring them under the purview of GST. Recently, the Prime Minister and then the Chief Economic Advisor Krishnamurthy Subramaniam also advised to bring it under the purview of GST. Before this, Petroleum Minister Dharmendra Pradhan has also suggested this. However, Finance Minister Nirmala Sitharaman has described it as religious. Now SBI economist Soumikanti Ghosh has said that after being brought under the ambit of GST, the price of petrol and diesel can come to Rs. 68.
Petrol and diesel fall in GST, 0.4% loss to GDP
Saumyakanti Ghosh has said in his assessment that petrol and diesel and the state governments will only incur a revenue loss of one lakh crore rupees which will be 0.4 percent of GDP. This assessment has been done based on the price of crude oil in the international market at $ 60 per barrel and a dollar-rupee exchange rate of 73 rupees per dollar. Both the central and state governments impose their tax on petrol and diesel. States apply VAT on petrol and diesel as per their requirement. The center imposes excise duty. With this, the center's cess is put on it. In some parts of the country, the price of petrol has reached 100 rupees a liter.
Saudi Arabia turned down India's request
Meanwhile, OPEC has ignored India's plea to lift applicable controls on crude oil production. At the same time, there has been an increase in the price of crude oil in the international market. Saudi Arabia has told India that it can use the crude oil it bought at the time when the price of crude oil went down significantly last year. Brent crude oil, which is the most used crude oil, rose nearly one percent to $ 67.44 a barrel on Friday.
Petroleum Minister Dharmendra Pradhan appealed to OPEC countries to reduce the restrictions imposed on production to bring stability in the price of crude oil. He believed that due to the rising crude oil prices in the international market, both the improvement in the economic sector and the demand are having a bad effect.
The Central Board of Secondary Education's Class X-XII second session examination is to begin fro
The Israel-Hamas conflict has been going on for more than two months. While on the one hand, Pale
The Supreme Court took suo motu cognizance of the Delhi and NCR air pollution crisis and held a h
On Saturday, inside the Pragati Maidan tunnel, miscreants looted a bag containing two lakh rupees
Not only the high-level committee but now students and parents will also suggest what kind of imp
The Supreme Court on Thursday gave a historic verdict on the appointment of the Chief Election Co
The US has not mentioned Pakistan and Saudi Arabia in its list of security allies for the year 20
MP News: Ban on BSC Nursing second year exam, High Court orders to shield answer sheets
The Gwalior Bench of the Madhya Pradesh High Court has stayed the B.Sc Nursing second-year examin
A US government document has worked to increase the heartbeat of Pakistan and China. Though the r
One AC for the Entire House? Here’s How Mini-Split Air Conditioning Systems Work
Standard split or window ACs designed for home use are capable of cooling only a single room. If
